Last week, the U.S. House of Representatives voted to repeal the death tax (estate tax) for all inheritances, as well as set new rates and limits for monetary gifts. The bill is now before the Senate, which may pass on taking up the bill at this time. The President has also threatened to veto the bill should it make it to his desk. As this is a priority issue for the baking industry, ABA will continue to monitor and urge the Senate to repeal the death tax.